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What is the progress of the new investment option of the Greek Golden Visa program?

I learned that the shares and bonds investment option of the Greek Golden Visa program, which was slated to come into effect earlier this month, was put on hold due to a snap election in Greece. It has been three weeks. What is the progress? When can investors expect this new investment option to take effect?

  • Energopiisi SA Investment Consulting Services
    July 28, 2019

    The Greek government, in order to improve and supplement the current resident permit scheme for third-country nationals investing in Greece (the Golden Visa), recently voted on a legal amendment which extends the scope of the existing scheme by adding intangible investments to investment activities for which a permanent resident permit may be issued to third-country nationals. Joint ministerial decisions of the ministers of migration policy, economy and development and, where appropriate, foreign affairs, deal in particular with issues of application of the above provisions. Now in Greece, the elected government, totally focused and committed to investment, has already began its legislation work. After the issuance of the related circulars the participation of the investors could be feasible, within next weeks.

  • Stilianos Ch. Proestakis
    July 27, 2019

    I believe from autumn 2019 until the end of this year the new bill of the immigration code would take effect. The new parliament/government members are trying to catch up time.